Borrowers Questions and Answers

Q: I have recently experienced a foreclosure or short sale of a prior home that I owned. Can I still qualify for your loan program?A: Our non-traditional loan program is tailored toward those borrowers who may have recently lost their homes due to foreclosure or short sales. We realize that this unprecedented economic down turn has forced many of us to make the ‘toughdecisions’ to walk away from our mortgage obligations.

Q: So, if I have had a foreclosure or short sale, you’ll make me a new home loan?A: No! Not that easily. Our loan program is a full documentation, full qualifying, down payment required loan that looks at the ‘total picture’ and forgives mortgage default and other credit delinquencies that were caused by this current economic environment.

Q: If I’ve had to declare bankruptcy, am I still eligible for your loan program?A: Yes. We realize that the only way out for some of our borrowers was to seek the protection of the courts. Certain conditions apply, so you will need to advise us of your particular situation.

Q: I have friends who took out one of those ‘hard money’ loans and they ended up losing their home. Could that happen to me?A: We do not consider ourselves to be a ‘hard money’ lender or a predatory lender. Our rates are normally substantially below ‘hard money’ rates, and all of our loans have NO pre-payment penalties. You can pay off your loan at any time without penalty or additional fees. Of course, if you do not make your payments on our loan, we will take protective actions which may include foreclosing on your home.

Q: This program sounds too good to be true! Why are you doing this? What is in it for you and what is the opportunity for me?A: We see a unique opportunity to create a win-win-win-win scenario. The first ‘win’ is for you the borrower who gets back into home ownership while home prices are at unbelievable lows and at decent interest rates. The second ‘win’ is for the Investor who has been making basically nothing on his cash and who now has the opportunity to ‘be the bank.’ The third ‘win’ is for our company, as we will earn the points that are paid at closing. The fourth and final ‘win’ is for our economy. We think that getting good people back into homeownership will help re-start the engine of economic growth for our great state of Nevada.